House prices at record high

April 29, 2015

The price of a typical home in the UK rose by 1% between March and April, according to the latest figures from the Nationwide House Price Index, this is the largest monthly rise since June 2014.

UK  house price growth rose an annual rate of 5.2 per cent in April, a small rise from the fgure of 5.2% in March . This put the average cost of a house in the UK at £193,048, that is the  highest since records began.

Nationwide’s chief economist Robert Gardner is reported as saying, “The pick up in growth price has occurred even though the pace of activity in the housing market has remained fairly subdued in recent months. Indeed, the number of mortgage approvals is still well below its long run average and 20% below the levels recorded in early 2014.

The strength of the economy and relatively subdued pace of activity in the housing market remains something of anomoly.It is possible that heightened uncertainty ahead of the election is weighing on activity, though there is no compelling evidence from previous UK elections to suggest a strong impact.

Healthy labour market conditions and continued low mortgage rates should help to underpin housing demand in the quarters ahead”

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Barclays unlocks wider mortgage access for company directors

Limited company directors who meet the income threshold can now have their Profit After Tax (PAT) considered in their affordability assessment regardless of property value The change means that, for a wider group of limited company directors, Barclays will consider a fuller view of the applicant’s income The update is the latest in a series…
Read More →
Breaking News

Homebuyer demand fall in Q3

The latest sales demand data from eXp UK has revealed that homebuyer demand in England slipped by -1.6% in Q3 2026. The analysis shows that just five counties managed positive growth during the quarter, suggesting that buyers may be holding back, adopting a wait-and-see approach ahead of what promises to be a vital Autumn Budget –…
Read More →
Estate Agent Talk

Alterations can change a property’s rebuild cost

‘Don’t get caught short’ warning to homeowners from valuations experts – alterations can change a property’s rebuild cost Properties change over time. Homeowners may add an extension, upgrade a kitchen or bathroom, alter the layout, or even change how the building is used, but when do those changes mean it’s time for a new rebuild…
Read More →
Breaking News

HMO conversions hit investors for £82,000 on average

The average cost of converting a property into a house in multiple occupation (HMO) is estimated at more than £82,000 across England, according to new research by residential property management specialist, Rushbrook, although investors looking to avoid the conversion process have more than 2,500 existing licensed HMOs available to purchase. Rushbrook analysed HMO property listings across…
Read More →
Estate Agent Talk

Selling a HAUNTED house?

Property lawyer reveals whether you have to tell buyers about ghosts    HOMEOWNERS selling a property with a spooky reputation have been warned that its haunted history could come back to bite them if a nervous buyer starts asking questions. From unexplained footsteps and doors opening by themselves to tales of former residents refusing to…
Read More →
Breaking News

Renters call for greater transparency in HMOs

National findings released as 1 in 5 tenants report feeling unsafe at some point during their tenancy because of a housemate Rising housing costs pushing more people towards shared accommodation      42% of tenants received no information about their housemates before moving in 60% wish they had known more about who they would be living with…
Read More →